»Ê¹ÚÌåÓýapp

»Ê¹ÚÌåÓýapp operation of TCGA92/S133 depends upon whether the premium is greater than the allowable expenditure on the holding of securities.

• If the payment is equal to or less than the relevant allowable expenditure the payment is not treated as a disposal. »Ê¹ÚÌåÓýapp relevant allowable expenditure is reduced by the amount of the premium, TCGA92/S133 (2).
• If the payment is greater than the relevant allowable expenditure the taxpayer can elect to have the premium reduced by the amount of the relevant allowable expenditure. »Ê¹ÚÌåÓýapp relevant allowable expenditure cannot be set off against any future disposal, TCGA92/S133 (4).